KEY FINDINGS The revenue generated by the Asia-Pacific biochip market is expected to progress with an estimated CAGR of 21.13% between the forecast years of 2018-2026.
MARKET INSIGHTS Technological advancement in biotechnology, rising number of applications for biochips and the overall scope for biotechnological growth in the sub-continent of Asia are factors that are presenting the market with immense opportunities to expand. Asia will see high growth due to new strategies by biotechnology companies including launch products in Asia by countries like China and South Korea before FDA or E.U. approvals China
China biochip market accounted for the highest revenue share in 2017, and the countries is expected to showcase similar growth pattern throughout the forecast period. Other significant markets in this region are Japan, India, South Korea, Australia and those in the rest of Asia-Pacific. However, the complexities of biological systems, high costs of instruments and a lack of common regulatory standards are factors that might challenge this market’s growth in the future.
COMPETITIVE INSIGHTS Some of the established players in this market are Bio-Rad Laboratories Inc, Samsung Electronics Inc, Illumina Inc, Origene Technologies Inc, Cybrdi Inc, Biomerieux SA, Fluidigm Corporation, Agilent Technology Inc, Biochain Institute Inc, Thermo Fisher Scientific Inc, and Perkinelmer Inc.